UJAAS ENERGY LIMITED

EARNINGS
PRESENTATION
Q2/H1-FY17

Executive Summary
Ujaas Energy Ltd (UEL) was founded by Mr. Shyam Sunder Mundra and is run today along with his two sons, Mr. Vikalp
Mundra and Mr. Anurag Mundra.

COMPANY
OVERVIEW

Manufacturing transformers for more than 30 years, the company diversified into the generation of solar energy and
launched a solar power turn-key project called UJAAS since 2010.
UEL was listed on both BSE and NSE in October 2011.
Companys market capitalization as on 30th September 2016 was approximately INR 4,490 Mn.

BUSINESS MIX

UJAAS Parks
UJAAS Parks is UELs flagship
offering for one stop
comprehensive solar turn-key
projects to any potential solar
power producer.

UJAAS EPC
Leveraging the companys experience,
both in the power and solar sector, the
company is now offering solar EPC
solutions to potential solar power
producers and captive generators.

Solar Power Generation

UEL also has a 15.4 MW solar power
plant on its own books.
The Company sells this power to
commercial properties in Madhya
Pradesh.

UJAAS UEL has setup more than 150 MW of Solar Power plants for several corporate and Individual clients like KRBL, SRS,
Friends Group, Rockwell, Avon cycles, NALCO, SECI etc.

MARKETS

Solar Power Generation UEL sells its solar power to commercial consumers like hotels, malls, industries across Madhya
Pradesh.

Total Income in FY16 reported at INR 2,795 Mn

FINANCIALS

EBITDA in FY16 reported at INR 649 Mn; EBITDA Margins reported at 23.22%
Net Profit in FY16 reported at INR 208 Mn; PAT Margins reported at 7.44%

Key Highlights
Q2-FY17 Financial Performance:

H1-FY17 Financial Performance:

Total Income: INR 1,226 Mn; YoY Growth of 130.0%

EBITDA: INR 197 Mn; YoY Growth of 51.5%
EBITDA Margin: 16.07%
Net Profit: INR 97 Mn; YoY Growth of 193.9%
PAT Margin: 7.91%
Diluted EPS: INR 0.49

Total Income: INR 2,180 Mn; YoY Growth of 233.3%

EBITDA: INR 369 Mn; YoY Growth of 56.4%
EBITDA Margin: 16.93%
Net Profit: INR 169 Mn; YoY Growth of 259.6%
PAT Margin: 7.75%
Diluted EPS: INR 0.85

Operational Highlights:

The company has successfully commissioned 20 MW of solar plants (across all segments) during the quarter.
The company has made a strong foray into the home rooftop solar segment with an order win from Uttarakhand
Renewable Energy Development Authority for installations on 364 houses.
The company has won ET Best Infrastructure Brand 2016 for its immense contribution to the Infrastructure Sector.
Current Order Book: 20 MW
Current Bid Book: 80 MW

Regulatory Updates:

The Maharashtra Electricity Regulatory Commission has directed Maharashtra State Electricity Distribution Co.
Ltd. to meet its shortfall of Solar Renewable Purchase Obligation latest by March 2017, which in Renewable
Energy Certificates terms would amount to more than INR 400 crore.
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Quarterly Financial Performance

Particulars (INR. Mn)

Q2 FY17

Q2 FY16

Y-o-Y

Q1 FY17

Q-o-Q

Total Income*

1,226

533

130.0%

954

28.5%

Operating Expenses

1,029

403

155.3%

783

31.4%

197

130

51.5%

171

15.2%

16.07%

24.39%

(832) bps

17.92%

(185) bps

Depreciation

20

20

0.0%

20

0.0%

Finance Cost

53

34

55.9%

43

23.3%

124

76

63.2%

108

14.8%

Taxation

27

43

(37.2)%

36

(25.0)%

Profit After Tax

97

33

193.9%

72

34.7%

7.91%

6.16%

175 bps

7.55%

36 bps

0.49

0.16

206.3%

0.36

36.1%

EBITDA
EBITDA Margin (%)

Profit Before Tax

PAT Margin (%)

Diluted EPS (INR)

* Includes Other Income

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Half Yearly Financial Performance

Particulars (INR. Mn)

H1 FY17

H1 FY16

Y-o-Y

Total Income*

2,180

654

233.3%

Operating Expenses

1,811

418

333.3%

369

236

56.4%

16.93%

36.09%

(1,916) bps

Depreciation

40

40

0.0%

Finance Cost

97

69

40.6%

232

127

82.7%

63

80

(21.3)%

169

47

259.6%

7.75%

7.19%

56 bps

0.85

0.24

254.2%

EBITDA
EBITDA Margin (%)

Profit Before Tax

Taxation
Profit After Tax
PAT Margin (%)
Diluted EPS (INR)

* Includes Other Income

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Quarterly Performance - Segmental

Net Revenue (INR mn)

Manufacturing and Sale of Solar Power Plant

(INR Mn)
120

2,000

868

1,000
464

69

66

66

40
0

145

79

100

51

95

100

201

150

62

20

200

50

80
60

391

250

EBIT (INR mn)

1,145

100

107

100

1,562

1,500

500

Solar Power Plant Generation and

Maintenance (INR Mn)

80
60
40

59
38

37

40

20
0

* Includes Other Income

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Income Statement
Particulars (INR. Mn)

FY11

FY12

FY13

FY14

FY15

FY16

H1 FY17

Total Income*

339

370

2,480

5,332

1,133

2,795

2,180

Operating Expenses

305

336

1,972

4,341

688

2,146

1,811

34

34

508

991

445

649

369

10.03%

9.19%

20.48%

18.58%

39.28%

23.22%

16.93%

Finance Cost

19

10

50

91

180

155

97

Depreciation

19

47

81

80

40

12

20

439

853

184

414

232

Taxation

11

169

479

67

205

63

Profit After Tax

270

374

117

209

169

2.36%

2.43%

10.89%

7.01%

10.33%

7.48%

7.75%

0.65

0.53

1.35

1.87

0.59

1.04

0.85

EBITDA
EBITDA Margin (%)

Profit Before Tax

PAT Margin (%)

Diluted EPS (INR)

* Includes Other Income

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Standalone Balance Sheet

Particulars (INR Mn)

FY14

FY15

FY16

H1FY17 Particulars (INR Mn)

FY14

FY15

FY16

H1FY17

1,904

1,828

1,759

1,733

NA

NA

29

41

65

34

1,936

1,871

1,827

1,769

423

637

819

1,263

1,770

824

1,173

1,028

1,129 (c) Cash & Bank Balances

654

160

685

491

184 (d) Current Investments

10

20

262*

187

168

121

143

149

1,419 (f) Other current assets

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Total Current Assets

3,030

1,763

3,091

3,139

4,966

3,634

4,918

4,908

EQUITIES & LIABILITIES

Assets

Shareholder Funds

Non-current Assets

(a) Share Capital Equity

(b) Reserves & Surplus
Total - Shareholder Funds

200

200

200

200 Fixed Assets

1,428

1,533

1,724

1,893 (a) Tangible Assets

1,628

1,733

1,924

2,093 (b) Intangible Assets

Non-Current Liabilities
(a) Long term Borrowings

(c) Capital Work-in-progress

1,112

994

889

(b) Long term Provisions

(c) Deferred Tax Liability

379

407

524

1,492

1,402

1,416

Total - Non-current Liabilities

Current Liabilities

(a) Short-Term Borrowings

43

1,431

344

1,249

(c) Other Current Liabilities

142

138

260

(d) Short-term provisions

181

16

26

1,846

499

1,578

Total Current Liabilities

GRAND TOTAL

1,396 Current Assets

(a) Inventories

92

(b) Trade Payables

(d) Intangible Assets under

development
(e) Long Term Loans & Adv. & other
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non-current assets
560 Total Non-current Assets
832

4,966

3,634

4,918

89 (b) Trade Receivables

17 (e) Short-term loans and advances

4,908 GRAND TOTAL

* Includes investments in liquid mutual funds, Effective cash 947 Mn

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Financial Performance
Income* (INR Mn)
6,000

PAT (INR Mn)

EBIDTA (INR Mn)

5,332

1000

991

400

800

4,000

2,795

2,000

649

600

445

FY14

FY15

FY16

50
40

ROE

FY14

20
10

0.60

33

30

20
23

0
FY14

14

7
FY15

FY15

FY14

FY16

Net Debt Equity (x)

RoCE

0.40

FY16

FY15

FY16

Book Value per Share (INR)

9.6

10

0.48
0.34

9
0.12

0.20
11

117

ROE & RoCE (%)

208

100

200
0

300
200

400

1,133

374

8.7
8.1

8
7

0.00
FY14

FY15

FY16

FY14

FY15

FY16

* Includes Other Income

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Disclaimer
Ujaas Energy Ltd. Disclaimer:
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions
contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be
based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Ujaas Energy Ltd.
(Company or Ujaas Energy Ltd), which are expressed in good faith and in their opinion reasonable, including those relating to the Companys general business plans and strategy, its
future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of
the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including
future changes or developments in the Companys business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not
necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking
statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation
does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in
connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States,
without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which
the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the
truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that
you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors
or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

For further details, please feel free to contact our Investor Relations Representatives:
Valorem Advisors Investor Relations Management
Mr. Anuj Sonpal
Tel: +91-22-3006-7521 / 22 / 23 / 24
Email: anuj@valoremadvisors.com

UJAAS ENERGY LIMITED

Email : info@ujaas.com

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